Comments on: Your Take: Prepaid Credit Cards

By: GoinBroke

GoinBroke — Mon, 17 Sep 2007 22:32:32 +0000

Prepaid credit cards are some of the only ways to get money into online Poker site accounts since bank transfers are now illegal.

By: Mrs. Micah

Mrs. Micah — Mon, 17 Sep 2007 14:51:42 +0000

Mr. Micah and I got some as wedding gifts. I guess it’s considered safer than cash and more portable than checks. We used them for groceries.

By: TheOtherSmitty

TheOtherSmitty — Sat, 15 Sep 2007 16:28:56 +0000

I had a prepaid card years ago that I never paid any fees for – the program didn’t last long. It was marketed as an introduction to credit. It appealed to me because I could put something like $10 on it and use it to sign up for trial offers with questionable organizations; subsequent charges would all be rejected. There’s also the security aspect of it. You can’t lose more than the balance on it.

By: Lazy Man

Lazy Man — Sat, 15 Sep 2007 06:09:31 +0000

I think it’s as SavingWithMe said, a good way to introduce children to credit cards. It’s also a good gift, as mentioned.

By: SavingWithMe

SavingWithMe — Sat, 15 Sep 2007 02:22:09 +0000

I have heard of parents giving their teenagers prepaid cards as a safety/emergency measure. Seems like an expensive way to do that but it is worth it to some. I tried to buy a gift certificate and they said there was a fee associated with buying and I definitely turned it down and went elsewhere.

By: js

js — Fri, 14 Sep 2007 21:50:28 +0000

Are the pre-paid cards anonymous? If it is I can think of some *reasons* why someone might use it

By: Kyle @ Rather-Be-Shopping.com

Kyle @ Rather-Be-Shopping.com — Fri, 14 Sep 2007 21:33:58 +0000

It seems the best candidate for pre-paid credit cards would be somebody coming out of bankruptcy who can’t get a “real” credit card but still needs the convenience. Same goes for insured credit cards.

By: PiggyBankBlues

PiggyBankBlues — Fri, 14 Sep 2007 20:41:47 +0000

I think people who have a problem handling credit and are afraid to use/abuse it like prepaids. My sister, for example. It makes her feel more comfortable to use something she can’t mess up. It makes no sense to me on so many levels, but I guess that for some there is a safety in the pay-as-you-go aspect.

By: dong

dong — Fri, 14 Sep 2007 20:32:04 +0000

I think prepaid credit cards are primarily intended as gifts in lieu of cash…

By: Ken

Ken — Fri, 14 Sep 2007 19:01:47 +0000

Why not just pay extra money to your existing normal, no annual fee, credit card? Then it will be the same as being prepaid.